What is the Full Form of SBI?

The full form of SBI is the State Bank of India. It is a public bank and a multinational corporation. SBI is the largest bank in India and holds approximately 23 per cent share of the market in the banking sector by assets and 25 per cent of the total loan and deposits market. These statistics reveal that the SBI is the largest banking and finance organization in India. The Government of India is the biggest shareholder in SBI as it owns 62% of equity funds in SBI. Read this article to learn more about SBI full form!

Also Read: SBI Education Loan 

About SBI Full Form

SBI or State Bank of India is a public sector bank that has more than 24000 branch offices in India. There are 200 offices of SBI in more than 30 countries across the world. 

SBI was established in 1806 and since then it has played a crucial role in the development of the Indian banking sector. 

The SBI provides a variety of products and services such as savings accounts, current accounts, credit cards, debit cards, loans, investment products, and much more. With the advancement of technology, SBI is now running all the processes in online mode.

Also Read: SBI Takeover of Education Loan Scheme

Functions of SBI

Mentioned below are some functions of SBI:

• It offers a wide range of banking products and services.
• SBI offers loans to companies.
• It is also involved in the buying and selling of gold.
• SBI attracts and sells foreign exchange payments.
• This bank accepts deposits from the public and depositors from institutions. 
• SBI cannot purchase immovable property but it can buy buildings for commercial purposes.

Also Read: SBI Scholar Loan

Products and Services Provided by SBI

SBI offers a wide array of products and services in various sections:

• Savings Account
• Fixed Deposit
• Recurring Deposit
• SBI Term Deposit
• SBI Home Loan
• Current accounts
• Regular Current Account
• Zero Balance Current Account
• SBI Credit Card
• SBI Debit Card
• SBI Forex Services
• SBI Investments
• Agricultural/ Rural banking
• NRI Services
• SME
• Corporate Banking
• Corporate Banking & other services.

Also Read: What is the Full Form of RBI?

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